No longer a shock, a regular occurrence for the FX insurance in money markets. Dollar holders have to bet the outcome in the 3T being passed when and how. Most of them do not live hear, and rely on some form of hedging. There intent is to use the dollars to buy oil. So to insure the dollar is to keep Texas a marginal exporter. On the margin, the Saudis may agree, they need dollars and sell to China these days.
No comments:
Post a Comment